By Sophie Pappas
Everything is at a standstill as Buckingham Cos. is reevaluating what is to happen with the South Main Street corridor and the lots for sale along Sycamore Street.
According to Zionsville Town Manager Ed Mitro, the company needs to continue communicating with the town before it can move forward with any official plans.
“My understanding is that Buckingham is re-assessing its options for portions of the property,” Mitro said. “We will await their next move.”
As Current in Zionsville reported in October, Buckingham Cos., which manages more than $1 billion in real estate assets, was hoping to construct a multi-use residential and retail space in downtown’s southern corridor by purchasing land plots.
Feedback from neighboring village residents and town leaders has forced the company to restructure any plans it had for Zionsville.
The multi-use project was expected to include the vacant Citgo lot, the vacant Stacy-LaBolt building, and an occupied mobile home park, Zionsville Adult Village.
As Ralph Stacy, co-owner of the 1-1/2 acre Stacy-LaBolt property listed at $895,000, said: “I’ll believe [the deal]when I see it.”
Owner of Zionsville Adult Village, Marcella Compton, is expected to retire following the sale of her 14.3-acre parcel. It is listed for $500,000.
Buckingham Cos. declined to comment on the development project in Zionsville. A spokesperson for Borshoff, an Indianapolis-based public relations company handling all Buckingham Cos. accounts, said: “Everything is evolving with this development.”
“I really can’t give any update at this point,” said Tim Coxey, of Borshoff. “I can’t comment any further.”
